China's ICBC Issues Mobile-Payment Card

The Industrial and Commercial Bank of China has signed deals with China-based mobile-payments provider Union Mobile Pay and American Express Co. to launch a "mobile-payment" credit card in China, a spokesperson for the bank tells CardLine Global. Consumers can use the card for purchases and tie it to a mobile-phone account. "Cardholders will have to link their mobile numbers to their credit card account to activate this facility," the spokesperson says. "They can then use their mobiles to make payments at merchants within AmEx's network as well be able to shop online from their phone." The spokesperson gave no further details. The "ICBC Mobile Payment American Express Card" will enable consumers to make transactions in U.S. dollars and Chinese yuan, the spokesperson adds.

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